Wellington Management Group LLP Increases Stock Position in Northrop Grumman Corporation $NOC

Key Points

• Wellington Management Group LLP increased its holdings in Northrop Grumman by 23.4%, acquiring an additional 974,633 shares, bringing its total to 5,139,333 shares valued at around $2.63 billion.
• Northrop Grumman also increased its quarterly dividend from $2.06 to $2.31, with a current annualized dividend yield of 1.6%.
• Analyst sentiment has shifted with a mix of upgrades and downgrades, leading to a consensus price target of $586.79 and an average rating of "Moderate Buy."

Wellington Management Group LLP grew its holdings in Northrop Grumman Corporation (NYSE:NOC - Free Report) by 23.4% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 5,139,333 shares of the aerospace company's stock after buying an additional 974,633 shares during the period. Wellington Management Group LLP owned 3.57% of Northrop Grumman worth $2,631,390,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NOC. Brighton Jones LLC increased its stake in shares of Northrop Grumman by 176.3% during the fourth quarter. Brighton Jones LLC now owns 2,970 shares of the aerospace company's stock worth $1,394,000 after acquiring an additional 1,895 shares during the period. Bank Pictet & Cie Europe AG lifted its position in shares of Northrop Grumman by 2.2% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 1,006 shares of the aerospace company's stock valued at $472,000 after acquiring an additional 22 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Northrop Grumman by 12.5% during the 4th quarter. NewEdge Advisors LLC now owns 10,291 shares of the aerospace company's stock worth $4,829,000 after acquiring an additional 1,142 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Northrop Grumman by 337.1% in the 4th quarter. First Trust Advisors LP now owns 482,112 shares of the aerospace company's stock worth $226,250,000 after acquiring an additional 371,814 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Northrop Grumman by 9.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 798,626 shares of the aerospace company's stock valued at $374,777,000 after purchasing an additional 68,321 shares in the last quarter. 83.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOC has been the subject of a number of research analyst reports. Bank of America raised their price target on Northrop Grumman from $550.00 to $650.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Robert W. Baird raised their price target on Northrop Grumman from $547.00 to $565.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Wall Street Zen cut Northrop Grumman from a "buy" rating to a "hold" rating in a research report on Thursday, April 24th. Susquehanna raised their price target on Northrop Grumman from $557.00 to $650.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. raised their price target on Northrop Grumman from $480.00 to $585.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. Ten research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Northrop Grumman presently has an average rating of "Moderate Buy" and a consensus price target of $586.79.

Northrop Grumman Stock Up 0.1%

NOC opened at $584.02 on Monday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.04 and a quick ratio of 0.93. The stock has a market capitalization of $83.62 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 5.59 and a beta of 0.15. The business has a 50-day moving average of $532.08 and a two-hundred day moving average of $501.05. Northrop Grumman Corporation has a 12 month low of $426.24 and a 12 month high of $594.68.

Northrop Grumman (NYSE:NOC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The aerospace company reported $7.11 EPS for the quarter, beating the consensus estimate of $6.84 by $0.27. The company had revenue of $10.35 billion during the quarter, compared to analysts' expectations of $10.15 billion. Northrop Grumman had a return on equity of 25.52% and a net margin of 9.74%. The firm's revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.36 EPS. On average, research analysts expect that Northrop Grumman Corporation will post 28.05 earnings per share for the current year.

Northrop Grumman Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Monday, June 2nd were paid a $2.31 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $9.24 annualized dividend and a dividend yield of 1.6%. This is an increase from Northrop Grumman's previous quarterly dividend of $2.06. Northrop Grumman's dividend payout ratio is presently 34.06%.

Insider Transactions at Northrop Grumman

In other news, CEO Kathy J. Warden sold 7,500 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $505.77, for a total value of $3,793,275.00. Following the transaction, the chief executive officer directly owned 201,602 shares of the company's stock, valued at $101,964,243.54. The trade was a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Thomas H. Jones sold 729 shares of Northrop Grumman stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $505.77, for a total value of $368,706.33. Following the completion of the transaction, the vice president directly owned 7,552 shares in the company, valued at $3,819,575.04. This represents a 8.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,536 shares of company stock valued at $8,306,857. 0.23% of the stock is currently owned by company insiders.

About Northrop Grumman

Northrop Grumman Corporation operates as an aerospace and defense technology company in the United States, Asia/Pacific, Europe, and internationally. The company's Aeronautics Systems segment designs, develops, manufactures, integrates, and sustains aircraft systems. This segment also offers unmanned autonomous aircraft systems, including high-altitude long-endurance strategic ISR systems and vertical take-off and landing tactical ISR systems; and strategic long-range strike aircraft, tactical fighter and air dominance aircraft, and airborne battle management and command and control systems.

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